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QGold to make 40-Australian-cent-per-share takeover bid for Strategic Minerals

QGold Pty. Ltd intends to make an on-market takeover offer to acquire all the shares in Strategic Minerals Corp. NL for 40 Australian cents per share.

The company already owned about a 69.15% interest in Strategic Minerals, according to the Dec. 4 release.

QGold intends to purchase the 21,735,713 shares on issue that it does not already own, and any new shares issued during the offer period. This values the deal to at least A$8.7 million.

The offer is scheduled to open Dec. 19 and close March 30, 2018.